Certiorari Denied in ABA's Appeal regarding NCUA's FOM
The Supreme Court on June 29 denied to hear an appeal of the American Bankers Association lawsuit against the National Credit Union Administration regarding the agency' field of membership (FOM) rule.
I see credit union advocates are now pushing for ending FOMs all together. How about a compromise? End FOMs but change the CU tax exemption to only apply to mutual banks and credit unions with assets of under $100 million. Seems like small banks and credit unions need all the help they can get these days while large credit unions currently have an unfair advantage against community banks.
Then how about legislation to limit the size of banks to $500 billion? No need for any institution larger than that. These large TBIF banks prove constantly they are anti-consumer and prove it every chance they get.
I see credit union advocates are now pushing for ending FOMs all together. How about a compromise? End FOMs but change the CU tax exemption to only apply to mutual banks and credit unions with assets of under $100 million. Seems like small banks and credit unions need all the help they can get these days while large credit unions currently have an unfair advantage against community banks.
ReplyDeleteThen how about legislation to limit the size of banks to $500 billion? No need for any institution larger than that. These large TBIF banks prove constantly they are anti-consumer and prove it every chance they get.
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